I have done this. You make the basic cube and then take the extra panels and place them inside the cube attaching them with zip ties at whatever height you want. Just clip the ends of the zip ties off and keep them to the outside so they don't get in the way. There is a front and back to the panels. One side has a small lip. Decide if you want this on the top or bottom. I found it easier to get paper out if I put the lip on the bottom.
No, but I do know that if you have to resort to stacking your paper, put each different kind in a manila folder slightly narrower than your paper (so the edges of the paper peek out the sides) before you stack it and it makes it easier to find which paper you're looking for and to grab it out from the middle of the stack without papers slipping hither and yon.
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